Maglev Train Record in Japan: Reaches 374 MPH for 11 Seconds

A magnetically levitating train operated by Central Japan Railway Co. making a test run is seen on an experimental track in Tsuru, Yamanashi Prefecture, in this photo taken by Kyodo April 21, 2015. (Kyodo/Reuters/Landov)

Construction of the Tokyo-Nagoya route is likely to total roughly $100 billion, as it will have to create a number of tunnels. It's estimated that the 170-mile trip could be completed in just 40 minutes with the new train.

Japanese Prime Minister Shinzo Abe will travel to the U.S. on April 26, and is expected to pitch the new tech to the American market. He will talk specifically about linking New York City with Washington D.C. using a maglev train.